All businesses whatever their objectives have to make products and/or provide services that satisfy customers' wants or needs - These objectives flow from its mission and are the criteria against which its performance needs to be judged.

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Introduction

BUSINESS OBJECTIVES DESCRIPTION OF BUSINESS OBJECTIVES Businesses exist to provide goods and services. All businesses whatever their objectives have to make products and/or provide services that satisfy customers' wants or needs. These objectives flow from its mission and are the criteria against which its performance needs to be judged. MISSION Every organisation will have a mission, whether in the private or public sector, large or small, commercial or non- commercial. A mission statement is a written document setting out the organisation's purpose. I have carried out research and discovered the characteristics needed for a good mission statement which are: * Be well written, simple and direct * Identify the values and culture of the organisation * Define its purpose * Identify its customers * Identify the scope of its activities, e.g. local or 'world class' * Set out its standards and the qualities that distinguish it from its competitors. SHORT- RUN AND LONG- RUN OBJECTIVES Long- run objectives cover a three to five- year time period. They usually define the organisation's primary or main aims- for example, to increase profits by 10 per cent. Short- run objectives, usually set for up to one year ahead, are used to support the long- run objectives- for example, to increase profits in the north west by 15 per cent. ...read more.

Middle

This basically means that they are trying to achieve what they are saying. In my opinion I think that these objectives have been achieved as Pizza Hut is increasingly succeeding in all the different areas it operates. More people come to the restaurants, more restaurants are opening, and without a doubt people are always recommending people to go to Pizza Hut for the number one service. Pizza hut also state that they have aims, which are related to objectives. The way in which Pizza Hut will achieve its business aims by living its values are: * Customer focus * Belief in people * Recognition * Coaching and support * Accountability * Excellence * Positive energy * Teamwork * Integrity and openness * Fun and enthusiasm Without a doubt any business can achieve its aims or objectives by focusing on these important factors. MARKETING OBJECTIVES Pizza hut states marketing objectives, which is a statement of what is to be accomplished through marketing activities. These objectives are: * To maintain the number one market position * To increase the percentage of pizza sales by increasing the number of franchise delivery units with carryout facilities These objectives in my opinion could be achieved through different ways. ...read more.

Conclusion

* to develop management systems, including appropriate targets, to achieve its objectives. * to monitor and report annually on performance against objectives and targets. * to communicate its policy and practice to key stakeholders The reason I decided to include this information in the description and explanation and judgements of the businesses objectives, is because I feel that these points are objectives as they are related to the way in which Whitbread want Pizza Hut to operate. If Pizza Hut can meet these points then they are successful meaning that these points must be objectives. Objectives are laid out so a business can look back at them and follow them. Just like in this case Pizza Hut are to follow these points. To finish off this section on Pizza Hut's objectives, I think that Pizza Hut is operating at a high standard meaning that all of the different types of objectives are being met. I think if they start to expand their service more around the world and produce tastier products, then all objectives will be fulfilled. If Pizza Hut think of more logical ideas such as creating an ordering system on their main website, then they will make more profit allowing them to expand on equipment and proving the employees with higher wages. I will mention this in more detail in the ICT section. I hope that all of this information I produced is relevant to this section of the assignment. ...read more.

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The Management Accounting function also prepares budgets and monitors financial progress. If we look at the information above and then look at Tesco I can say that Tesco's finance department have a similar sort of system, which looks at the future financial events.

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This is were the problems occurs. A franchisor may increase selling prices as means of increasing turnover, thereby generating larger fees from the franchisee. In contrast, this may not be beneficial for the franchisee, who may feel that the customer base cannot withstand price increase and who would prefer to achieve increased profitability by improved efficiency and decreased overheads.

that provides a driving force behind the enterprise. For example, there would be an accumulated wisdom of recipes and marketing ideas. It is helpful to view a business as a system or, more specifically, as an overall system that can be viewed as a series of subsystems. A system processes inputs to produce output.